Analog Devices Inc (NASDAQ:ADI) Q1 2017 Earnings Conference Call - Final Transcript
Feb 15, 2017 • 10:00 am ET
and would represent the fourth consecutive quarter of year-on-year revenue growth. Gross margins are expected to increase to be between approximately 66.5% and approximately 67% on higher utilization rates and a more favorable mix.
We estimate that operating expenses will be down approximately 3% to up approximately 1% sequentially in the second quarter. Based on these estimates and excluding any special items, diluted earnings per share are planned to be in the range of $0.74 to $0.86, which as the midpoint would represent very strong year-over-year earnings per share growth of about 25%. So to wrap it up, the first quarter was a very good start to the year. We had a strong year-on-year revenue growth with quality earnings and cash generation, and we expect this momentum to continue into the second quarter.
So with that, we'll take any questions you have.
Great. Thanks, Dave. And so just a reminder for folks on the line, please limit yourself to one question. And again, if you have a follow-up question, we ask that you re-queue. And again, we do this in the spirit of fairness so that everybody on the call gets to ask at least one of their questions. So, operator, it's all yours.